Willis Group shareholders last week approved changing the company’s place of incorporation from Bermuda to Ireland.

Willis expects to complete the reorganisation around the end of the year, subject to approval by the Supreme Court of Bermuda.

The move will see a new Irish public limited company established, called Willis Group Holdings plc, to replace Willis Group Holdings Limited as the ultimate public holding company of the Willis Group.

The global broker expects the move to deliver a more stable tax environment.